Abbeystead Estate owners Duke of Westminster and Grosvenor family named 12th on Times Rich List

Hugh Grosvenor oversees his family’s property empire, including the Abbeystead Estate. Photo: Getty Images

The Duke and his family, who have a substantial worldwide property portfolio, have a net worth of £10.054bn - down £241m on 2020.

They dropped two places down the Rich List from 2020.

The Duke, 30, also ranks in first place on the Young Rich List, the same position as a year ago.

The Grosvenor family own the 23,000 acre Abbeystead Estate.

Hugh Grosvenor became the 7th Duke of Westminster and Britain’s youngest billionaire, after inheriting his title at the age of 25 when his father Gerald died in August 2016.

The Newcastle University graduate oversees his family’s property empire, which includes 300 acres of Mayfair and Belgravia as well as land in more than 60 cities around the world.

Among the property is the 23,000 acre Abbeystead Estate near Lancaster.

The Duke was once the world’s richest person under 30.

Top of the Rich List is Sir Leonard Blavatnik, with a net worth of £23bn, an increase on last year of £7.219bn, which sees him rise from fourth spot a year ago thanks to his income from investment, music and media.